The earnings call for Coinbase Global, Inc. was largely positive, with strong revenue growth, increased trading volumes, and favorable regulatory developments. However, there were some concerns about declining stablecoin revenue and rising expenses.

Company Guidance

During the Coinbase Global, Inc. fourth quarter and full year 2024 earnings call, the company provided optimistic guidance for 2025, highlighting several key metrics and strategic priorities. Coinbase achieved a total revenue of $6.6 billion in 2024, more than doubling from the previous year, with an adjusted EBITDA of $3.3 billion, marking two consecutive years of positive adjusted EBITDA. Subscription services revenue increased by 64% year-over-year to $2.3 billion, driven by USDC, staking, and Coinbase One. The company's international revenue share reached 19% in Q4, thanks to improved payment rails and localization efforts. Looking ahead to 2025, Coinbase aims to grow revenue through existing products, expand into international markets, and capitalize on regulatory tailwinds. Priorities include enhancing derivatives trading, driving USDC's market cap growth, and increasing subscription services revenue. Additionally, Coinbase plans to accelerate crypto payments integration, lower transaction fees on Base, and support landmark crypto legislation, while maintaining a strong focus on operating discipline and opportunistic investments.

Impressive Revenue Growth

Total revenue in 2024 more than doubled to $6.6 billion, with $3.3 billion in adjusted EBITDA, marking two straight years of positive adjusted EBITDA.

Subscription Services Surge

Subscription services revenue increased by 64% year-over-year to $2.3 billion, driven by USDC, staking, and Coinbase One.

Record Trading Volume

Q4 total trading volume was $439 billion, up 137% quarter-over-quarter, with consumer trading volume at $94 billion, up 176%.

International Revenue Growth

International revenue share reached 19% in Q4 due to improved payment rails and localization.

Positive Adjusted EBITDA and Net Income

Q4 adjusted EBITDA was $1.3 billion, and net income was also $1.3 billion, with significant gains from crypto asset investment portfolio.

Regulatory Tailwinds

Regulatory environment becoming more favorable, with new pro-crypto legislation and support from the US government.

Strong Balance Sheet

USD resources grew to $9.3 billion by the end of the year, providing flexibility for investments and acquisitions.

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Coinbase Global (COIN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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COIN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2025	2025 (Q1)	2.19 / -	4.4	―	―	―
Feb 13, 2025	2024 (Q4)	2.26 / 4.66	1.04	348.08% (+3.62)	―
Oct 30, 2024	2024 (Q3)	0.41 / 0.28	-0.01	2900.00% (+0.29)	―
Aug 01, 2024	2024 (Q2)	0.95 / 0.14	-0.42	133.33% (+0.56)	―
May 02, 2024	2024 (Q1)	1.15 / 4.40	-0.34	1394.12% (+4.74)	―
Feb 15, 2024	2023 (Q4)	0.02 / 1.04	-2.46	142.28% (+3.50)	―
Nov 02, 2023	2023 (Q3)	-0.55 / -0.01	-2.43	99.59% (+2.42)	―
Aug 03, 2023	2023 (Q2)	-0.76 / -0.42	-4.98	91.57% (+4.56)	―
May 04, 2023	2023 (Q1)	-1.45 / -0.34	-1.98	82.83% (+1.64)	―
Feb 21, 2023	2022 (Q4)	-2.52 / -2.46	3.32	-174.10% (-5.78)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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COIN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 13, 2025	$274.90	$298.11	+8.44%
Oct 30, 2024	$211.74	$179.25	-15.34%
Aug 01, 2024	$212.64	$204.44	-3.86%
May 02, 2024	$210.09	$228.85	+8.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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